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Companies forming alliances to bid for Fujairah II project

- October 11, 2006, 11:41 pm

International companies are forming alliances as the deadline nears for submission of expressions of interest (EoI) for Abu Dhabi’s Dh11 billion ($3 billion) seventh independent water and power project (IWPP), Fujairah II, officials said.

The last date for submitting the EoI for Fujairah II is October 25.

“We will be forming a consortium and currently we are talking to our potential partners. The Fujairah II project is a large one and it is advantageous to go with a strong partner,” said Ranald Spiers, regional director of the UK’s International Power (IP).

IP as well as other international companies formed alliances to bid for previous IWPPs in Abu Dhabi.

“There’s strong competition and partnerships are formed for different reasons. Some take Japanese partners to obtain low cost Japanese finance for funding the project,” said Spiers.

A senior official of a Japanese company confirmed finalising a partner but declined to name the company. “The combined expertise of two or three companies is always better and the winners in many IWPPs in the region have been a consortia, rather than a single company,” the official said.

Suez Energy Middle East, based in the UAE, said it has submitted its EoI but declined to comment on its potential partner.

The greenfield project will have a capacity of 2000 megawatts of power and 100 million gallons per day of water.

A spokesman for the Abu Dhabi Water and Electricity Authority (Adwea) said once EoI’s are submitted, pre-qualifications will take place. “We expect to select the developer for Fujairah II by March and achieve financial close by October.”

Singapore’s Sembcorp Utilities is developing the Fujairah I project which, after takeover and expansion will have a capacity of 656 megawatts and 100 million gallons daily.

According to Adwea, investments of more than Dh40 billion have been pumped into the water and power sector since Abu Dhabi embarked upon its privatisation drive in 1998.

Abu Dhabi now has a power generating capacity of more than 7,000 mega-watts and 500 million gallons daily of water.

Source - Gulf News

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